Crypto transactions surge 706% in Asia as institutional adoption grows — Chai...
When it comes to cryptocurrency transactions, the region of Central and Southern Asia and Oceania, or CSAO, is growing rapidly. Emerging markets across Central and Southern Asia have registered a dramatic uptick in cryptocurrency transactions, highlighting a diverse range of motivations among locals for gaining exposure to digital assets such as Bitcoin (BTC) and Ether (ETH).New research from blockchain analytics firm Chainalysis finds that crypto transactions surged 706% in Central and Southern Asia and Oceania — a broad region that includes countries such as India, Pakistan and Vietnam —....
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The market could “easily reach new all-time highs by the end of the year,” says IoTeX co-founder Dr. Raullen Chai. As the market dips over escalating tensions in Eastern Europe, Dr. Raullen Chai, the co-founder and CEO of blockchain network IoTeX, is urging crypto investors to hold on to their crypto.The Russian army recently started its advance on Ukraine, firing missiles on the second-largest European country. Following this, crypto markets took a nosedive, with all the top coins dropping between 8% and 18%, according to Cointelegraph Markets Pro. However, despite the current market....
Compared to Europe and North America, bitcoin adoption is still a tad slower in Asia, even though a large portion of bitcoin trading volumes are in China. Cryptocurrency payments haven't gained much traction in the region, despite the increase in bitcoin remittance services. Countries such as the Philippines and Indonesia stand to benefit from bitcoin transactions, as the former relies heavily on remittances while the latter has shown demand for Islam-approved non-interest financing. Even so, very few merchants accept cryptocurrency payments and there are no bitcoin ATMs available just....
It probably came as little surprise last year when crypto intelligence firm Chainalysis declared East Asia the worlds largest cryptocurrency market, accounting for 31% of all cryptocurrency transacted during the previous 12 months. The region has a broad base of retail users along with a solid foundation of crypto traders and institutions, and China alone was at the time mining around two-thirds of all the Bitcoin in the world.In July 2021, Fidelity Digital Assets surveyed 1,100 institutional investors in the United States (408), Europe (393) and Asia (299) between December 2, 2020 and....
From Singapore to Thailand and Indonesia: Asia’s crypto landscape continued to thrive, unabated by China’s sudden crackdown. A fundamental trait of crypto is as an asset class that transcends jurisdictions. Yet, one of the key hubs driving adoption and innovation is Asia. Since the heady days of Korea’s Kimchi premium and Bitcoin (BTC) arbitrage opportunities, the region is playing a role in defining crypto’s development pathways and anchoring its future.According to Chainanalysis’ report, in the first half of 2021, Asia was already the destination for 28% of the overall global transaction....
Countries in Asia, especially India, are outpacing the rest of the world when it comes to adoption of cryptocurrencies. A recent analysis of the markets by the research firm Finder has found that the top five countries in terms of crypto ownership are all located in Asia. Though these countries were considered as unimportant earlier, […]